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Stronghold Digital Mining Closes $10 Million Private Placement

Deals & Cases
April 26, 2023
Deals & Cases
April 26, 2023

Vinson & Elkins advised Stronghold Digital Mining, Inc., a vertically integrated Bitcoin mining company, in connection with securities purchase agreements with a PIPE transaction in which the Company issued and sold an aggregate of 10,000,000 shares of its Class A common stock and share equivalents at a price of $1.00 per share.

The Company also issued to the purchasers warrants to purchase an aggregate of 10,000,000 shares of Class A common stock, with an exercise price of $1.10 per share. The transaction closed on April 21, 2023.

The Vinson & Elkins team was led by partners Daniel LeBey and Shelley Barber and senior associate Lucy Liu, with assistance from associates Glen Taylor and Bennett Robinson.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 11 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.

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